2256

LAWS OF MARYLAND

Ch. 647

contain all the information required for the notice of sale
but which shall state where interested parties may obtain a
complete copy thereof.

SECTION -4- 5. AND BE FURTHER ENACTED, That the money
so borrowed for the public facilities, in evidence of which
any such bonds shall be issued under the authority of this
Act, shall upon delivery of the bonds to the purchaser or
purchasers thereof be paid to the Treasurer of Cecil County
(or to such other official of the county designated to
receive such payment in a resolution adopted by the County
before such delivery) and shall be used exclusively and
solely for financing such public facilities and the payment
of all expenses, including but not limited to advertising,
printing, and legal fees incurred in the issuance, sale, and
delivery of such bonds. In the event the amounts so
borrowed shall prove inadequate for the financing of the
public facilities, the County may, at any time, issue
additional bonds within the limitations hereof for the
purposes of evidencing the borrowing of additional funds for
such financing, provided that the resolution authorizing the
additional bonds shall so recite, but if the funds derived
from the sale of any issue of bonds shall exceed the amount
needed to finance the public facilities described in the
authorizing resolution, the excess funds so borrowed shall
be applied by the County in payment of the next principal
maturity of the bonds so issued or to the redemption of any
part of such bonds, if the same shall have been made
redeemable, unless the County shall adopt a resolution
allocating such excess funds to finance other projects of
the same general type or class as the public facilities.

SECTION -5-6. AND BE IT FURTHER ENACTED, That the
bonds hereby authorized shall constitute, and they shall so
recite, an irrevocable pledge of the full faith and credit
and unlimited taxing power of the County to the payment of
the maturing principal and interest of such bonds as and
when the same respectively mature. In each and every fiscal
year that any of the bonds are outstanding, the County shall
levy or cause to be levied ad valorem, taxes upon all the
assessable property within the corporate limits of the
County in rate and amount sufficient to provide for the
payment, when due, of the principal of and interest on all
the bonds maturing in each such fiscal year and in the event
the proceeds from the taxes so levied in any such fiscal
year shall prove inadequate for the above purposes,
additional taxes shall be levied in the succeeding fiscal
year to make up any such deficiency. The County may apply
to the payment of principal and interest of any bonds issued
hereunder any funds received by it from the State of
Maryland, the United States of America, any agency or
instrumentality thereof, or from any other source, if such
funds are granted for the purpose of assisting the County in
financing the public facilities, and to the extent of any
such funds received or receivable in any fiscal year the